Pers Cola Increase For 2024. In 2022, 2023, and 2024, social security checks increased by 5.9%, 8.7%, and 3.2%, respectively. Cola for 2024 is 3.2%.
These facts should also provide insights into why calpers cannot simply raise your cola amount due to the significant impact of inflation in today’s economy. Purchasing power protection allowance (pppa) is a benefit designed to maintain the original purchasing power of calpers retirees to a predetermined limit when accumulated cost of living adjustment (cola) has not maintained pace with inflation.